A quoted price of a security, expressed in terms of dollars per $100 par value. The dollar price may be the transaction price or may be derived from the yield ( basis price) of the transaction. Compare: BASIS PRICE.
bond whose price is expressed as a percentage of par, rather than in terms of yield to maturity.
Is the price of a bond expressed as a percentage of face, par, or principal. For example, a dollar price of 98 for a $1,000 denominated bond would be $980 for that bond.